Lucas started down this road, but I think the most important part here is to very rigorously vet the would-be tenant and get enough written assurances that you are covered if this doesn't go well. 

Most "trash collection services" look pretty heavy duty for my puny apartment building.  

You need to plan for vacancies and figure out who would cover repairs.

Due to postponed closing due to financing he also wanted 1/2 the cost covered by my.

I receive either a covered hotel room or a housing Stipend, $100/day.I'm opting to choose the stipend bc rent averages $1500/month here, which means I can pocket $1500/month.

@Swati V PatelIf the 401(k) owns the property, all all expenses will need to be covered using 401(k) funds.Whether to invest in multiple units or just one unit at a time comes down to how much funds you have to work with and whether or not you want to start out slowly.

I’ve done that once, an x-tenant sued for deposit, we counter sued for property damages, she dropped her case and signed a hold harmless to avoid us collecting on her for damages not covered by the deposit.

However, some State or local laws cover animals that are still in training.Q: When can service animals be excluded?

Reassessment would be ... undesirable.There's also a bulletin posted on the DRE site (from 2016) that talks about this subject as it relates to short term rentals (but they cover all mgmt cases):http://www.dre.ca.gov/files/pdf/adv/LicenseeAlert2...The "power of attorney" thing has an ominous "don't use these provisions to circumvent the requirement" clause. 

Of course the downside to that is that you have to cover the mortgage out of pocket for the time it is on the market.